Federal and provincial tax laws are complex. Keeping up with changes in legislation and its administrative interpretation is time consuming and requires an in-depth knowledge of tax laws.
The truth is that most organizations do not benefit fully from the tax rebates and refunds to which they are entitled. This is not surprising since it is almost impossible for a non-specialist to be aware of every tax issue that may affect their organization.
A popular misconception is that filing GST return cards ensures that an organization is receiving its full refund entitlement. In fact, there are other areas of potential rebate that are not common knowledge, except to a tax expert.
Organizations generally assume that their suppliers are correctly applying taxes. This is often not the case.
Another common misconception is that annual year-end audits deal with tax overpayment issues. In fact this is not typically the case.
A reputable tax recovery firm will bring to your organization an intimate working knowledge of tax laws and their application. Tax recovery specialists also have the opportunity to work with a wide range of organizations in all sectors, many of which will be similar to yours. This allows them to apply a unique and broad experience to identifying overpayments and other tax recovery opportunities for you.
This is the type of knowledge and experience the tax specialists at Capital Commodity Tax Consultants Inc. (Capital) have developed over many years in the field. The added advantage is that our clients are only billed, if and when they actually receive payment resulting from a claim we have filed on their behalf. So there's no risk, only potential benefits in having Capital complete a comprehensive tax audit.